Standard Conversion

On 16 April 2022, Federal Law No. 114-FZ was enacted providing that with effect from 27 April 2022:

  1. any circulation of depositary receipts representing shares in PJSC Gazprom (the "DRs" and "Shares", respectively) outside of the Russian Federation shall be terminated;
  2. no DR holder shall have voting rights or receive any dividends;
  3. the right to receive Shares upon DR conversion may be exercised only by a DR holder that has this status as of 27 April 2022.

On 29 April 2022, PJSC Gazprom submitted an instruction to The Bank of New York Mellon to terminate the Deposit Agreement and close the DR Programmes.

Upon surrendering the DRs for conversion, the Shares may be credited to your account (the "Account"If you do not have an account to receive the Shares, you should first (prior to the conversion) open such an account with any Russian depositary or with a foreign depositary acting as a foreign nominee and holding a securities account at a Russian depositary.)

  • opened with a foreign depositary acting as a foreign nominee and holding a securities account at a Russian depositary
  • or opened with a Russian depositary

Please be informed that if your securities account is held with a foreign depositary acting as a foreign nominee and holding a securities account with a Russian depositary, your presence, or the presence of your representative acting under a power of attorney, in the Russian Federation, including for the purposes of your identification under Federal Law of the Russian Federation No. 115-FZ dated 07 August 2001 "On Counteraction to Legalization (Laundering) of Proceeds of Crime and Terrorist Financing" (the "Russian AML/CFT Law"), concluding an agreement, or making a transaction through the securities account, is not required.

The standard conversion procedure is currently suspended on the part of BNY; we recommend that you refer directly to the dedicated website of BNY for the latest information on when the standard conversion procedure will be resumed.